New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday allowed the withdrawal of UK-based Liberty House bid for ARGL on the plea of resolution professional of the debt-ridden company. A two-member bench, headed by Justice SJ Mukhopadhaya, also pulled up Liberty House for not pursuing the corporate insolvency resolution process after being selected…
Womens apparel chain Charlotte Russe will close all of its remaining stores as it becomes the latest victim of the retail apocalypse. The company says the shutdown of 416 locations will occur during the next two months. Going out of business sales will begin immediately in stores across 44 states and Puerto Rico. Charlotte Russe…
Thu, 07 Mar 2019 | ADMINISTRATION Leaving a 16-year legacy of delivering door-to-door fundraising for a number of charities behind, HOME Fundraising announced that it was entering voluntary administration. The agency was forced to call in accountancy firm HW Fisher & Company to handle the administration process, with the administrators actively looking for buyers to…
MUMBAI: Liquidation cases are likely to rise as resolution plans fail to give a reasonable valuation, said bankers at the Mint India Investment Summit. They also said liquidation numbers are high due to legacy issues. If we really look into the number of liquidation orders, the ratio is 1:4. Partly, we need to understand these…
The former general manager of Napoleon Perdis Cosmetics will make an application to the Federal Court for leave to continue with his claim for nearly $100,000 in payments. Because Napoleon Perdis Cosmetics Pty Ltd has gone into voluntary administration, his lawyer says the Federal Court needs to approve the interlocatory application for the proceedings to…
The former general manager of Napoleon Perdis Cosmetics will make an application to the Federal Court for leave to continue with his claim for nearly $100,000 in payments. Because Napoleon Perdis Cosmetics Pty Ltd has gone into voluntary administration, his lawyer says the Federal Court needs to approve the interlocatory application for the proceedings to…
Dear Sir / Madam, We would like to inform you that 22nd meeting of Committee of Creditors of ABG Shipyard Limited was held on Friday, 01st March 2019, at 02.30 P.M. IST at Mayfair Banquets, 254-C Dr. Annie Besant Road, Shivaji Nagar, Worli, Mumbai-400 030, Maharashtra. You are requested to take the same on record.…
This is to inform you that the 13th meeting of the Committee of Creditors (CoC) of Sterling Biotech Limited (under Corporate Insolvency Resolution Process) (the Company) was held on Wednesday, 27th February 2019 at 10:00 A.M. at IMC Bldg., IMC Marg, Churchgate, Mumbai – 400 020, Maharashtra, India. The e-voting on the resolutions put to…
More than 465 bricks-and-mortar stores closed their doors for good in the US over the weekend, sparking headlines that the retail apocalypse is alive and well. And while the store closure surge was primarily driven by retailers, such as Gap, J.C. Penney and Victorias Secret, rightsizing their footprints after a slow December, rather than businesses…
.story-content span,.story-content p,.story-content div{color:#000!important;font-family:open sans,Arial!important;font-size:15px!important} span.p-content div[id^=div-gpt]{line-height:0;font-size:0} Of the 11 steel making entities named in the Reserve Bank of Indias list of large corporate defaulters, four have completed their corporate insolvency resolution process (CIRP), with the lenders realising claims to the tune of Rs 44, 500 crore with an average haircut of 47 per cent.…